Steamboat Crossing Flex
For Sale
$1,350,000
1625 Mid Valley Drive #1, Steamboat Springs, CO 80487
Commercially zoned end-cap property with retail, office, garage, and mezzanine components near the ski area.
Property Size3,016 SF
Days on Market688
Property Features for 1625 Mid Valley Drive #1
General Information
Standard status
Active
Size
3,016 SF
Total Parking Spaces
7
Property subtype
Commercial
Zoning
Commercial
Additional Details
End Cap
Yes
Drive-In Doors
1
Amenities
garage
mezzanine
kitchenette
Building Details
Building Size
3,016 SF
Year Built
1996
Stories
2
Listing Agency:
Steamboat Mountain Real Estate
(970) 439-3107
Listed By:
Loui Antonucci
Source:
Steamboatmountainrealestate
Added: Oct 4, 2024
Changed: Aug 16
Last Checked: Aug 21 at 2:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Steamboat Mountain Real Estate
Investment Insights
Based on property information with market context.
Steamboat Crossing is a commercially zoned flex property in Steamboat Springs with more than 3000 square feet across multiple functional areas. The first floor has a finished retail buildout with walls, ceiling, flooring, and a bathroom. The second floor provides finished office space with a kitchenette, while the property also includes a garage with an overhead door and a second-floor mezzanine.
Five assigned parking spaces accommodate parking for 7 vehicles. The lower level is leased under a new 5 year term, and the upper level and garage are occupied by the owner, who is willing to remain or vacate. Built in 1996, the property is located in the Mid Valley Business Center near the ski area and a planned development with over 240 new condos.
Five assigned parking spaces accommodate parking for 7 vehicles. The lower level is leased under a new 5 year term, and the upper level and garage are occupied by the owner, who is willing to remain or vacate. Built in 1996, the property is located in the Mid Valley Business Center near the ski area and a planned development with over 240 new condos.
Key Highlights
- Flex property with over 3000 square feet
- Finished first‑floor retail area with bathroom
- Upper‑level office space includes a kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,302
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,026,040
$1.0M
Cap Rate 7%
$732,886
$732.9K
Cap Rate 9%
$570,022
$570.0K
Market Conditions
NOI Build-Up for 3,016 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.4K $27.00/SF
− Vacancy
−$8.1K −$2.70/SF
EGI
$73.3K $24.30/SF
− OpEx
−$22.0K −$7.29/SF
NOI
$51.3K $17.01/SF
Area
Routt County, CO
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,026,040
Cap Rate 7%
$732,886
Cap Rate 9%
$570,022
Alternative Uses
Best Use
Retail
$732.9K
$641.3K – $855.0K
NOI $51,302 @ 7.0% cap · market cap 3.80%
Second Best
Office B
$721.3K
$631.1K – $841.5K
NOI $50,488 @ 7.0% cap · market cap 3.74%
Theoretical Best
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,439 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80487, CO
18,209
Population
13,231
Households
1.4
Avg Household Size
42
Median Age
57%
College-Educated
97%
High-School Grad
795.8 sq mi
ZIP Area
23
Density / Sq Mi
$106,837
Median Household Income
$50,551
Median Earnings
$1,927
Median Rent
$915,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned end-cap property with retail, office, garage, and mezzanine components near the ski area.
Where is this flex space located?
The property is located at 1625 Mid Valley Drive #1 Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Flex property with over 3000 square feet; Finished first‑floor retail area with bathroom; Upper‑level office space includes a kitchenette
